BDSwiss Broker Review 2018
BDSwiss does not accept new customers from US.
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Licensed and regulated by CySEC and established in 2012, BDSwiss originally began as a binary options broker. In recent years, they have diversified into Forex and CFD trading and, as a popular choice among traders, have continued to grow their popularity as a safe and reliable platform.
There are a number of reasons that BDSwiss continue to be popular with their traders with numbers now exceeding 700,000. One of these is the technically advanced, MT4 trading platform. In addition to this they offer good customer support, various trading features like a free demo account and good spreads and payouts.
Even though they may have a reputation for a good all-round trading experience, you may still have questions about whether this is the right broker for you. We have reviewed numerous Forex brokers so that we can offer you a detailed and unbiased analysis of the benefits of using them. Our team of experts investigate all aspects of trading to bring you this information so that you can make an informed decision.
When choosing a Forex broker, you'll need all the facts. In this review, you will learn:
- What BDSwiss offers their many traders and how they continue to improve
- Details of their trading platform, ease of use and what you can expect
- The types of accounts, bonuses and other benefits that they offer you
There are two types of accounts available from the broker; the Basic Account and the Black Account. They offer many similar benefits but obviously these are increased with a Black Account.
This account requires a minimum deposit of $200 and offers average spreads of 1.3. The leverage available is up to 1:400. There is a minimum lot size of 0.01.
To open a Black Account, you need a deposit of $10,000. This account offers many benefits not available with the Basic Account and offers spreads on average of 1.0. The same leverage of 1:400 is available. The minimum lot size is 0.1
Use the demo account to use the simulated version of the platform before you commit any funds. This is a free account which just requires your email address and a few other details.
Trade Features And Payouts
While there may be only one type of trading account there are a number of trading features available on the BDSwiss trading platform. We take a look at what you can expect:
For traders with small balances you can grow your capital by using leverage. This will enable you to multiply your investment and build up your capital. The leverage offered by BDSwiss is 1:400. You should be aware though that your investment is at risk and that you should be confident in what you are doing.
The broker offers good spreads with no commission and this information is highly visible on their website. The live newsfeed and prices means that you can get access easily to the data. If you scroll to the bottom of their main Forex page you can see for example that EUR/USD offers spreads from 1.0 pips while GBP/USD offers spreads from 1.6 pips.
To protect your profit, the broker offers Stop Loss. What this means is that you can set an auto close position so that when your price levels are reached your trade will automatically close.
BDSwiss uses the MT4 trading platform which is one of the industry leading technologies. They couple this with the BDSwiss interface to give traders the best experience. In fact, they offer it in a number of formats; MT4 for web, Windows, Mac, Android and IOS. This is excellent news if you want to trade on the go from a mobile device.
Latest Winning Payouts
Bonuses And Promotions
Unlike most brokers there are no bonuses offered by BDSwiss. If this is important to you and your trading experience then they may not be the broker for you however you do need to look at the bigger picture here. They seem to focus all of their efforts into the trading experience and making it accessible to all traders. If it is a good all-round trading experience that you are looking for then they more than make up for their lack of bonuses.
If you are looking to be able to try the platform before you commit funds then they do offer a free demo account. While this won't give you access to the live trading platform it will allow you to practise trading so that you can familiarise yourself with everything
Most of you undoubtedly prefer to trade on the move. Gone are the days of being glued to a laptop during trading hours. Now you can trade wherever you are in the world, as long as you have an internet connection. The BDSwiss platform is optimised for all types of device including Mac, iOS and Android. This means that whether you are trading from a small phone or even a Macbook, you can trade on the go.
If you want to test the platform and ensure that it ticks all of your boxes for mobile trading, then simply visit the website on whatever device you are using and have a look for yourself.
Deposits And Withdrawals
As long as you have a method of making an online deposit then you can simply sign up, deposit your funds and start trading immediately. BDSwiss accept many forms of payment including Visa and Mastercard as well as the many electronic wallets like Skrill and Neteller.
When it comes to withdrawals, while BDSwiss offer no commission trading, they do state that there may be some withdrawal fees. This is fairly standard across brokers although not always so prominently displayed. You can find a detailed breakdown of their withdrawals fees on their site so that you don't get any surprises when you make a request to withdraw your funds. They will be returned to the original source of deposit when you do.
While BDSwiss may not offer a number of accounts and a variety of bonuses, they do offer a number of special features which make them a wise choice for many:
Expert Broker Reviews
There are a number of ways that you can get in touch with the customer support team. In fact, their support is available in 20 different languages. You will notice a live chat link at the bottom of the screen. This will open up a chat box for you to speak to someone about any questions or queries you might have. There are also a number of telephone numbers so that you can contact someone by phone. In addition to this there is a support email address.
If you visit the contact page you will clearly see the various options for contacting the broker which includes their postal addresses, fax and a contact form for you to select your reason for contacting them and various fields to input your information. It is always a good sign when the broker is so visible.
BDSwiss are a serious contender when it comes to Forex trading. They have worked hard to establish themselves as a reliable and reputable broker and have built a strong, technically advanced platform. Their visibility and number of ways in which to contact their customer support team is also a strong sign of a good broker.
They offer competitive spreads and payouts with no commission and a number of currency pairs in which to trade. They are also committed to making sure that you know what you are getting into and that you understand the risks of trading. While there are no bonuses, their free demo account means that you can try the platform before you make a decision.
Reviewed by: ForexTradingExpert.net
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Frequently Asked Questions
Is BDSwiss legit, will they scam me?
Having been trading since 2012 and with CySEC licensing, BDSwiss are one of the more reliable Forex brokers. They have built a good reputation over the years and their account holders now exceed 700,000. Their contact details are highly visible, their registered addresses are clearly displayed and the industry feedback is good. If you are looking for reliability and a safe broker to invest with then they are near the top of the list.
Do they have a decent mobile or tablet app?
With the MT4 platform being available in so many formats, they offer a good mobile trading experience. Whether you are using OS or Android, a small phone or a large tablet, the site will respond to your device. If you are someone who wants to be able to trade on the move then BDSwiss offers you this opportunity. As long as you have a compatible device and an internet connection you will be able to trade from wherever you are.
What bonus do they offer for new traders?
There are no bonuses offered by BDSwiss for Forex traders. If a bonus is an important factor for you then this will be disappointing news however, there are a number of strong reasons why BDSwiss is still a broker to be considered, not least their free demo platform and excellent trading experience. It seems that this broker prefers to focus on the strength of their platform and their reputation to encourage new traders to use them.
Can I start trading on a free demo account?
The answer to this is absolutely yes. In fact, if you go to their website and visit their Forex page, there is a link to their demo account in a prime position. You can see that there are a few fields required to be filled in; name, telephone number and email address. Once you have entered this information you are clear to use the demo platform which will give you access to a simulated version of the live trading arena.
What's the min. deposit and ideal trade amount?
You can open a BDSwiss basic Forex account with $200 but you can sign up to a demo account for free. Deposits can be made using Visa, Mastercard or any other form of electronic wallet accepted by the broker. Once you have made your deposit and taken the "appropriateness for trading" test then you will be able to start trading. Your price per trade should be based on 1% of your account balance so $800 equals $8 per trade.